Defense contractors are being allowed to retain profits that are several times the average profit rates being made by their industry as a whole. Now. why does this deplorable situation exist? One reason is that the Board is seriously under staffed. as I indicated earlier. The present number of less than 200 employees should be compared with the more than 700 employees that the Board had in 1953. A more important reason is the absence of leadership on the Board. For years. this agency has been a haven for refugees from political and private life. It is a "safe house" for out of work politicians and business executives between jobs. The previous Chairman.
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